Prompt Payments

Lockheed Martin is committed to timely payments of their subcontracts. If you need additional assistance with the payment process, please contact the buyer for your purchase order, or contact the LMP2P Helpdesk at 863-647-0558 for an alternative buyer.

 

Accelerated Payments to Small Businesses, 2014

Lockheed Martin remains strongly committed to the government’s efforts to stimulate economic activity and continues to support initiatives that drive small business success. As part of this commitment, the company is once again adopting an accelerated payment schedule for small business suppliers, in line with the reinstatement of this temporary practice by the Department of Defense.

According to a memorandum from the U.S. Federal Government Office of Defense Acquisition Regulations System, Department of Defense (DoD), this practice is effective August 1, 2014 through December 31, 2016, unless otherwise rescinded or extended. Lockheed Martin will begin its accelerated payment schedule on August 20.

Lockheed Martin will make payments 15 days after receipt of goods, services and invoice. As your company’s size status is registered in our Exostar system, you do not need to take any action to pursue accelerated payment. Please note, accelerated payments will not be provided to suppliers using our VIP system as those payment terms are negotiated based on value and benefit to our customers. In addition, making accelerated payments does not change the negotiated payment terms or any other terms of contracts between our companies. The government has no contractual obligation to accelerate payments under its prime contracts with Lockheed Martin, and we cannot guarantee whether accelerated payments will be made or continued in the future. Failure to provide accelerated payments will not result in any liability on behalf of Lockheed Martin, excuse supplier performance or entitle suppliers to any other relief.

The goals of the U.S. government and of Lockheed Martin are to support our country’s small businesses with the financial support needed to empower growth and strengthen financial stability. Thank you for your commitment, and we look forward to our continued partnership. If you have a question concerning accelerated payments, please contact your Lockheed Martin procurement representative.

For questions, contact Supplier.communications@lmco.com

 

Accounts Payable Information